The 1840 is numismatically significant as the second year of issue for the Liberty Head series and the last year that only Philadelphia produced this denomination. As a date, the 1840 is comparable with the 1841 and the 1842 Large Date but it is more available than the underrated 1842 Small Date and the 1843. It is scarce in AU55, rare in properly graded AU58 and exceedingly rare in full Mint State.

This example has just about the least amount of abrasions that I can recall seeing on this typically-baggy date. It shows nice medium green-gold color with some darker shadings towards the rims. The strike is razor sharp except for the radial lines of the first and final stars and the eye appeal is far above average for the date and grade.

The last APR for an NGC AU55 example is Heritage 8/13: 5120 which brought $2,585. There have been three other auction appearances for NGC AU55 coins between 2011 and 2013 and the prices ranged from $2,645 to $2,820.

Here is a nice early date P mint eagle for less than $3,000 which is well above average in all respects.